Texas weather is VERY hard to predict. In the middle of winter it might be 75 degrees one day and 25 the next. It’s completely normal to have a really nice March that somehow also includes a hard freeze late in the month.
Texas homeowners need to take precautions to minimize their losses due to freezes. With deductibles that easily exceed $1,000 and the high cost of repairing or replacing damage pipes, building walls and/or floors and contents lost to damage from the water, it’s in everyone’s interest to take preventive actions. Even more important, though, is that many policies don’t cover freezing damage claims. As a professional insurance advisor it’s important that every Texas independent agent know and explain clearly to their customers what is and is not covered.
This isn’t always as easy as it seems. As independent agents you’re able to offer multiple products from many different carriers, each with different optional coverages. This means dozens of potential combinations.
iMGA products offer a range of coverage for freezing or water damage:
- The Basic HO-A policy does not provide any coverage for water damage or freezing.
- Our Non-Admitted HOA+ covers freezing and resulting water damage as long as the originating point for the break is above the slab, foundation or surface of the ground (whichever is applicable).
- Our Admitted HOA+ and our Non-Admitted HOB cover freezing and resulting water damage regardless of the originating point for the break.
- With iMGA if freezing and resulting water damage is covered there is no sub-limit for the coverage – it’s available up to the applicable building and contents limits.
As you can see, there are a wide range of options. Your other carriers will have even more variations, including what limits may apply if any coverage is available. They may even be using completely different forms. Not everyone will want, need or be able to obtain the most coverage available. The important thing is that you understand the options and communicate them clearly to your clients.
Of course it’s also important they take precautions. Texas weather is, above all, unpredictable and avoiding a potential claim altogether is still the best possible solution.